Vietnamese EV Trailblazer VinFast Zooms Ahead Of Ford, GM In Carmaker Hierarchy
Portfolio Pulse from Piero Cingari
Vietnamese EV manufacturer VinFast Auto Ltd. (NASDAQ:VFS) has seen its market capitalization surge to $190 billion, a 600% increase since its IPO in mid-August 2023. This valuation surpasses the combined market worth of Ford Company (NYSE:F), General Motors (NYSE:GM), Ferrari (NYSE:RACE), and Stellantis N.V. (NYSE:STLA). VinFast is now the world's third-largest automobile manufacturer, behind Tesla Inc. (NYSE:TSLA) and Toyota Motor Corp. (NYSE:TM). However, the company's value defies conventional metrics, with global car sales of only 24,000 units in 2022 and a net loss of nearly $600 million in the first quarter of the current year.
August 29, 2023 | 2:35 pm
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NEGATIVE IMPACT
VinFast's market cap has surpassed that of Ford.
VinFast's rising market cap could put pressure on Ford's stock as investors may see more potential in the former.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
VinFast's market cap has surpassed that of General Motors.
VinFast's rising market cap could put pressure on GM's stock as investors may see more potential in the former.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
VinFast's market cap has surpassed that of Ferrari.
VinFast's rising market cap could put pressure on Ferrari's stock as investors may see more potential in the former.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
VinFast's market cap has surpassed that of Stellantis N.V.
VinFast's rising market cap could put pressure on Stellantis's stock as investors may see more potential in the former.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
VinFast is now the world's third-largest automobile manufacturer, behind Toyota.
VinFast's rise to the third-largest automobile manufacturer could impact Toyota's stock as it indicates increasing competition in the automobile market.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
VinFast is now the world's third-largest automobile manufacturer, behind Tesla.
VinFast's rise to the third-largest automobile manufacturer could impact Tesla's stock as it indicates increasing competition in the EV market.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
VinFast's market cap has surged, but the company's value defies conventional metrics with low global car sales and a significant net loss.
While VinFast's market cap has surged, the company's sales and earnings do not support this valuation. This could lead to volatility in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100